Tekcapital has formed its fifth portfolio company, Vesari Inc, to acquire and commercialise generative AI intellectual property focused on geothermal-powered hyperscale data centres.
It makes Tekcapital one of the only AIM-listed companies with direct exposure to the booming AI infrastructure industry.
The US-incorporated business was launched on the premise that reliable, scalable power, rather than chip supply, is the primary constraint on AI infrastructure growth.
The company is setting about establishing data centre campuses powered by geothermal sources to alleviate the power bottleneck and meet the burgeoning demand for AI compute.
With data centres already accounting for an estimated 4-5% of US electricity use and grid connection queues in major markets often exceeding five years, Vesari intends to co-locate AI compute directly alongside geothermal generation in a behind-the-meter configuration that runs independently of the grid.
The model would rely on low-Earth-orbit satellite connectivity rather than terrestrial fibre, and is designed to deliver round-the-clock, carbon-free baseload compute without adding to public grids.
Tekcapital said 11 patents address inefficiencies in converting geothermal energy into scalable compute, with a prototype architecture that integrates power generation, cooling, compute orchestration and monetisation into a single closed-loop system.
Louis Castro, Director of Tekcapital, said: “We are delighted to announce the formation of Vesari which has been created to address what we believe is becoming the defining constraint on the AI economy, not semiconductors, but power.”
“By co-locating AI compute directly with geothermal power generation, behind the meter, and connecting it via LEO satellites, we believe, that if successful, Vesari can enable more efficient, 24/7 carbon-free compute capacity. This resource will largely be insulated from grid constraints, power price volatility and should not impact the cost of electricity to individuals, communities and municipalities.”